Key Highlights
- A trader turned $85 into $146K in $我踏马来了, showing extreme meme coin gains, sparks debate over luck vs insider moves.
- $我踏马来了 surged from $0.01 to $0.04 before pulling back to $0.024, with high sell pressure and $1M liquidity remaining.
- Chinese meme coins are gaining traction while the broader crypto market remains in a stagnant phase.
While the global crypto market is moving through uncertainty, the Chinese meme coin scene is booming with a meme coin delivering whopping returns for one trader. The profit of over $146K on a mere $84 investment has sparked fresh debates on luck versus insider advantage.
According to blockchain analytics platform Lookonchain, wallet 0xf380 converted just $85 into $146,600, marking a 1,720× return. The trader spent 0.1 BNB ($85) to acquire 6.25 million 我踏马来了 tokens, later selling 1.53 million tokens for 34.88 BNB ($31.5K). He still holds 4.72 million tokens valued at around $115K.
As per the data, the transactions carried out on Binance DEX during January 9 and 10 show continuous sales valued at 200,000 tokens in each trade. Additionally, the wallet’s “infinite approval” feature for the Binance DEX contract allowed for ongoing trades without requiring regular approvals.
The earlier records showed a substantial purchase worth millions of tokens for a small BNB value, indicating a stage of accumulation and subsequent sell-offs.
Token surge and market reaction
On the contrary, the token data shared from Dexsreener by Lookonchain shows the token had hardly seen any movement for initial days, trading quietly with little action. Then, its value suddenly increased from less than $0.01 to above $0.04 within a short period, luckily after this trader’s purchases. The volume on the token also followed, with more people participating as the upside came to the picture. Towards the end, there were large sell orders displayed, showing that traders who invested earlier cashed out.
After reaching its peak, $我踏马来了 pulled back steadily to about $0.024, showing that the buying rush is slowing down. Recent charts are mostly red, indicating more selling than buying. The token still has around $1 million in liquidity, and its market cap sits near $24 million.
In the past 24 hours, the token’s price fell almost 25%, but buying and selling activity has stayed fairly even.
Patterns in meme coin trading
Such activity has been seen previously among memecoins on BNB Chain. On October 9, a trader managed to amplify $5,245 to $2.16 million in less than an hour by trading BNBHolder tokens. The address 0x94ac8d acquired 41.11 million tokens for 4 BNB and sold 33.55 million for 956 BNB ($1.25 million), with 7.55 million tokens worth $906K remaining in the address.
Likewise, in another wallet, a memecoin was used to accumulate almost $2 million in just hours from a wallet that had only $3,060.
Apart from risky speculative trades, the BNB Chain Foundation recently bought $200,000 worth of Chinese meme coins. They spent about $50K on each of these tokens: 370K $币安人生, 1.3M $哈基米, 4.83M $我踏马来了, and 4.7M $老子. Moves like this from an institutional buyer can shake up the market, causing short-term price swings and temporary spikes in liquidity.
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